Over dozens of early investors of digital assets are nowadays making huge profits, however, some companies in the list continue to expand their services to dominate the market. Back-to-back acquisitions, securing licenses, investing in partnering with pre-established giants, and other such moves suggest that the cryptocurrency market will grow at an appreciable pace in the coming years.
Robinhood, a known crypto-focused company, wrote in its press release dated October 1, 2024, that “ It has launched crypto transfers for customers in Europe, which is one of the most requested features in the region.”
The decision of Robinhood will enable users in the region to deposit and withdraw around 20 cryptocurrencies including Bitcoin, Ethereum, USD Coin (USD), and Solana (SOLO).
The VP and GM of Robinhood Crypto, Johann Kerbrat said “ With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers.”
Kerbrat further notes that “ Support for deposits and withdrawals gives customers more control over their crypto while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
While talking to the media Kerbrat cleared that the company has no initial plan to develop or launch its own stablecoin. “At this point, we don’t have any immediate plan to launch a stablecoin. The rumors are always interesting, but we haven’t really spent time on it,” he quoted.
Despite the surge adoption of stablecoin worldwide, Kerbrat notes that Robinhood has no imminent plan to enter this space; quoting “It’s always interesting to see where people think we’re going to go next, but for now, that’s not part of our roadmap.”
A leading financial news provider reported on September 05, 2024, that a crypto-based platform run by Robinhood Market will pay $3.9 million to settle claims it failed to let customers withdraw crypto from their accounts from 2018 to 2022.
To expand its presence in the crypto market Robinhood acquired Bitstamp on June 06, 2024, for the sum of $200 million, and later in July it bought Pluto, however the acquisition amount remains undisclosed.
Data from CrunchBase states Robinhood has raised $6.2 billion in 26 funding rounds; its lead investors include Emergent Fidelity Technologies and 9Yard Capital. Its portfolio holds companies like Quant, Infina, ErisX, and Bluprynt.
Crypto Market Price Updates
When writing the cryptocurrency market capitalization was $2.26 trillion at the same time intraday trading volume was $79.57 billion adding 21.45%. The fear and greed index by CoinMarketCap was at 48 determining naturality in the market sentiment.
Until publishing Bitcoin was trading above the 20, 50, 100, and 200 days EMA (Exponential Moving Average) at $63,872 adding 8.31% in the past seven days. The market of BTC continues to grow reaching 57.15% growing 10.75% YTD (Year to date).
The intraday gainer’s list is ruled by Popcat (POPCAT) as it grew 11.02% reaching $1.04 followed by EigenLayer (EIGEN) reaching $4.06 adding 9.32%. Hamster Kombat, the project that was in the spotlight for the past few weeks, has been bleeding losing 6.82%.
